Basis Investment Group, a national commercial real estate debt and equity investment platform, has provided a $22.25 million bridge loan to refinance Oasis at 2600, a 126-unit, garden-style, multifamily asset in Bend, Oregon.
The loan is structured with $1.5 million in future funding to facilitate the completion of unit renovations. “Our participation in Oasis at 2600 allows us a great opportunity to invest in a mission-aligned and well-cash-flowing affordable multifamily property in a high-potential market with a widely respected and active local borrower, New Earth Equities,” said Tammy K. Jones, Founder and CEO of Basis Investment Group.
Cameron Chalfant, Jesse Zarouk, and Brian Eisendrath of Institutional Property Advisors assisted in completing the deal. Oasis at 2600 offers convenient access to U.S. Routes 20 and 97, along with strong access to employment, healthcare, retail, and transit options in the neighborhood. The property benefits from the involvement of Oregon-based New Earth Equities, a local sponsor with significant experience in acquiring, renovating, and repositioning workforce-oriented multifamily properties.
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